Username
Password
Forget Password?
  1. Indices
  2. Commodities
  3. Currencies
Straits Times 3,066.25 -44.10 -1.42%
Hang Seng 25,447.66 -731.67 -2.79%
Dow Jones 25,628.90 -623.30 -2.37%
Shanghai Composite 2,869.81 -27.62 -0.95%
Stocks In Focus SG (Chasen Holdings, Forterra Trust, TEE Land ) – 02/09/13
Daily Bulletin | 02 September 2013
Related stocks:
5NV
S9B
By:

Chasen Bags $9.1m Worth of Contracts
Chasen Holdings Limited through its subsidiary in specialist relocation solutions, technical & engineering services and third-party logistics, announced that it has secured a total of four projects worth approximately $9.1 million since 1 July 2013. The nature of the projects ranges from construction and supply, to alteration works for air-conditioning and mechanical ventilation and also servicing and maintenance at island-wide facilities. The duration of the projects varies from two months to 30 months. Separately, the group believes that the commencement of major relocation projects in China, Malaysia and Vietnam, which was reflected in the recent quarterly results, is expected to continue making an impact for the rest of the financial year.

Significance: Chasen expects the momentum to continue and should see more contract wins from both its Relocation and Technical & Engineering business segments over the remaining months of the financial year. Barring unforeseen circumstances, the group expects to be profitable for FY2014.

Forterra Trust Adds 3,404 Sqm To Its TGA In Shanghai Mall
Forterra Real Estate Trust announced that it has secured an additional 3,404 square metres (sqm) floor space at Huai Hai Mall in Shanghai, China. Forterra acquired the retail mall located in Shanghai’s Central Business District in 2011, and owns its basement through to level three. The expansion of the mall’s total gross floor area (GFA) from 7,620 sqm to 11,024 sqm – comprises levels four and five of the mall fronting Huai Hai Road, as well as additional retail space along Pu’An Road from the ground floor to level three. The group has entered into a 20 year-lease, with an option at its discretion for an additional 10 years for the additional space. No capital commitment is needed for this transaction.

Significance: The expansion and lease agreement provide Forterra with the right to use, redevelop and lease the additional space – which is part of the trust’s plans to refurbish the retail property into a high-end shopping mall with works due to commence in 2014.

TEE Land’s Associate To Acquire Of A Thailand Property Firm For $8.3m.
TEE Land announced that its associate, Chewathai, has agreed to buy Rojtaj Development with a purchase consideration of Baht 200 million (about $8.3 million). Rojtaj owns a freehold property with an estimated land area of 30,677 square feet, at Bangsue, Bangkok, Thailand. The property will be redeveloped into a 26-storey residential development as it is well situated within the densely populated area of Bangsue, and is easily accessible (being located near the Taopoon MRT Interchange Station, which is currently under construction and expected to operate in three years’ time). It is also close to local amenities like supermarkets, schools, a hospital and offices. The purchase will be funded by the use of initial public offering proceeds and external bank borrowings.

Significance: The proposed acquisition is in line with the group’s strategy to further expand its regional presence and is part of its continuing foray into the Thailand market, which it considers to be a promising market. It will also provide a good opportunity for the group to continue riding on its proven track record and reputation in Thailand.

Chasen Hldgs  0.073 -0.001 -1.35%   
Business: Provides machinery & equipment relocation & warehousing services. [FY18 Turnover] Relocation (58.7%), technical and engineering (23.4%), third party logistics (17.9%).

Insight: Feb-19, 9M19 revenue increased 7% mainly contribut... Read More
TEE Land  -- -- --   
Business: Co is a real estate developer pre-dominantly focused on the Singapore market. [FY18 Turnover] Property development (91.4%), hotel operations (6.4%), investment properties (2.2%).

Insight: Apr-19, 9M18 revenue rose 12.1% to $87.5m due to h... Read More


Join The Conversation
The Shares Investment editorial team welcomes constructive feedback on our coverage and content. We would also be delighted to answer any questions on the above article. Leave us a comment below, and we'll get back to you shortly!

All Rights Reserved. Pioneers & Leaders (Publishers) Pte Ltd. Best viewed with Mozilla Firefox 3.5 and above.